Opthea (NASDAQ:OPT) Stock Price Down 2.4% – Should You Sell?

Shares of Opthea Limited (NASDAQ:OPT) were down 2.4% during mid-day trading on Wednesday . The company traded as low as $3.69 and last traded at $3.73. Approximately 2,618 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 21,319 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Price Performance

The business has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $3.35.

Institutional Investors Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC purchased a new position in shares of Opthea Limited (NASDAQ:OPT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,632 shares of the company’s stock, valued at approximately $114,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

Opthea Company Profile

Opthea Limited, a clinical stage biopharmaceutical company, engages in the development and commercialization of therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) VEGF-C, VEGF-D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage.